If you’re using alpha masking and/or WPO on that tree, it’s already using nanites slower pixel programmable path and may not actually be much faster than the standard rasterizer.
In my projects, I’ve often found nanite foliage to perform worse than non-nanite - even with VSM.
However translucent shaders are more expensive than either so I suspect it would be slower regardless. That said, I think it still could be worth profiling before concluding it is not viable.